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Grounded Jet Airways shares plummet over 24% in one month

Press Trust of India  |  New Delhi 

Shares of have fallen over 24 per cent in one month since the suspended operations.

stopped flying on April 17 after it ran out of cash.

In one month, shares of the company tumbled 24.28 per cent to Rs 124.10 on the BSE Friday from Rs 163.90 on April 18.

Markets were closed on April 17 for

The scrip of the firm hit its one-year low of Rs 120.25 on May 15. Its market valuation has eroded by Rs 451.26 crore to Rs 1,409.74 crore on BSE during the one month's time.

witnessed top-level exodus earlier this week, with four senior executives, including and his deputy Amit Agarwal, quitting the crisis-hit

The carrier on Tuesday announced the exit of Dube, Agarwal, and

Last month, Rajshree Pathy, as well as had quit.

In late March, Jet Airways founder along with his wife as well as Etihad Airways' stepped down from their respective positions following a debt-recast plan.

also stepped down from the post of

Lenders are scrambling to find a suitor for the On behalf of the lenders, SBI Caps had sought bids for sale of up to 75 per cent stake in Jet Airways.

After the first round of bids, private equity firms and TPG, and and Infrastructure Fund (NIIF) were shortlisted.

Abu Dhabi-based submitted its bid to acquire a minority stake in Jet Airways with a lot of riders that involved finding more investors, leaving little hope for the airline's survival.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 17 2019. 16:51 IST